Comments on: ‘09 Mileage rate released http://www.financeregs.com/09-mileage-rate-released/ Breaking news & updates for Finance and Accounting pros Tue, 21 Jul 2009 18:58:11 -0400 http://wordpress.org/?v=abc hourly 1 By: Carol Katarsky http://www.financeregs.com/09-mileage-rate-released/comment-page-1/#comment-1350 Carol Katarsky Wed, 26 Nov 2008 21:37:52 +0000 http://www.financeregs.com/?p=353#comment-1350 Well, that depends how you mean: They're mandatory in the sense that if your company reimburses MORE than the standard rate, the overage is taxable income to the employee. (So, if your company sets its rate at 60 cents per mile, 5 cents of each reimbursed mile woudl be taxable.) But, your company can set its own rate for internal use. Or, for that matter, not reimburse at all -- as long as you're willing to deal with grumbly employees. Well, that depends how you mean: They’re mandatory in the sense that if your company reimburses MORE than the standard rate, the overage is taxable income to the employee. (So, if your company sets its rate at 60 cents per mile, 5 cents of each reimbursed mile woudl be taxable.)

But, your company can set its own rate for internal use. Or, for that matter, not reimburse at all — as long as you’re willing to deal with grumbly employees.

]]> By: Mark Tanner http://www.financeregs.com/09-mileage-rate-released/comment-page-1/#comment-1349 Mark Tanner Wed, 26 Nov 2008 21:31:06 +0000 http://www.financeregs.com/?p=353#comment-1349 Are milage rates suggested or mandatory? Are milage rates suggested or mandatory?

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